Post Office has introduced new mortgage rates.

The rate on its two-year fixed rate mortgage (60% LTV, £1,995 fee) has been reduced from 1.70% to 1.63%, and its three-year fixed mortgage at 75% LTV (£0, fee assisted) has seen its rate reduced from 2.99% to 2.75%.

Other deals include:

• Two-year fixed rate (£995 fee) reduced from 2.19% to 1.98% (75% LTV)
• Two-year fixed rate (£0 fee assisted) reduced from 2.99% to 2.59% (75% LTV)
• Five-year fixed rate (£0 fee assisted) reduced from 4.39% to 4.29% (85% LTV)

John Willcock, head of Post Office Mortgages, said: “This has been an excellent year for Post Office mortgages; we have consistently offered some of some of the best rates in the market. We continue to offer a range of great value deals for potential homebuyers, whatever their situation.

“When it comes to buying a home, every penny counts and we are committed to helping our customers to move up the ladder which is why many of our rates have been reduced, and some deals are free of arrangement fees. The diversity of our range means we have deals for everyone from first-time buyers through to those looking to move home or remortgage. At the Post Office, we always put our customers first and we continue to strive to offer the best possible products to help them onto and up the property ladder.

“Not only do we offer customers a range of deals to choose from, we also offer them a choice on how they buy. The introduction of our mortgage specialists into certain branches last year means they are on hand to give friendly and knowledgeable advice for anyone on what is best for them.”